In a vertex shader program, I've got world transformation matrix and a point. I think that if I take inverse transformation matrix of the world matrix and multiply it by the point, I transform point from world space to object space.

Why not pass the inverse of the world matrix as a variable to your shader?

And normally you would be multiplying the point by the world, view, and projection matrices to transform from object space to world space. Is that what you mean to do?

EDIT: If you still intend to invert the matrix, it would get very slow to invert the matrix for every vertex, every frame. The best way to go about this is to pass the preinverted matrix to the shader once.

isn't there a way to find inverse transformation matrix of the world matrix in the hlsl shader ? passing it as a parameter is a solution but not my first choice

It is usually possible to do this in a shader, but then you will be re-calculating the inverse for every vertex that gets processed. If you calculate it once on the CPU, and pass it as a constant parameter, then you are much better off. In addition, you would likely only be able to calculate the inverse within a shader if you know how the transformation was created - i.e. if you know the rotation amounts, the translation amount, and the (uniform) scaling amount. Even so, it isn't a good idea to recalculate it in the shader program!

I can only support the recommendations to do it once on the CPU then pass it as a constant. Inverting a matrix can potentially be an expensive operation and is definitely not one that you want to be running once per-vertex.

Your local friendly matrix library should contain a routine for inverting any 4x4 matrix, look at D3DXMatrixInverse or XMMatrixInverse, for example.

It appears that the gentleman thought C++ was extremely difficult and he was overjoyed that the machine was absorbing it; he understood that good C++ is difficult but the best C++ is well-nigh unintelligible.